ERD - ERoad. (Transport sector technology)

[Enrix]

has anyone received notice of how many shares they were allocated in the SPP yet?

[teabag]

EROAD’s Share Purchase Plan closes oversubscribed

6/10/2020, 8:41 amOFFER6 October 2020
Transportation technology business EROAD Limited (NZX & ASX: ERD) (“EROAD”) today announced that its NZ$8m Share Purchase Plan (“SPP”) closed oversubscribed. The SPP received strong shareholder support with EROAD receiving applications totalling approximately NZ$18.46 million, over 230% above the amount sought.
Given the significant demand, EROAD has opted to accept oversubscriptions of NZ$3 million, increasing the size of the SPP to NZ$11 million. Applications will be scaled on a proportionate basis in accordance with the number of EROAD shares held by applicants on the Record Date (16 September 2020). Refunds of the surplus application amounts paid will be made to applicants on or before 14 October 2020.

[bullfrog]

has anyone received notice of how many shares they were allocated in the SPP yet?

Expecting some news tomorrow.

[bullfrog]

Looks like I got 57% of my requested shares, hoped for more but that’s ok. Now waiting for my refund. With a large war chest, should be an interesting year for Eroad.

[audiav]

Thought I was going to be scaled so asked for less than I should have......Computershare tells me I got the lot. Happy though.

[thedrunkfish]

Thought I was going to be scaled so asked for less than I should have......Computershare tells me I got the lot. Happy though.

How did you guys find out? I haven't received an email yet.

[audiav]

Logged into https://www.computershare.com/nz

[freddagg]

I think everyone will have got 44.2% of their existing shareholding unless they asked for less.
This is what I got on the portfolios I administer and Eroad said allocations will be in proportion to existing holdings

[Jaa]

I think everyone will have got 44.2% of their existing shareholding unless they asked for less.
This is what I got on the portfolios I administer and Eroad said allocations will be in proportion to existing holdings

Yup that's what I got too, note Director Stuart got $50k in the SPP worth which is a bad look. He should have applied in the placement. As always would have preferred a rights issue especially in cases like this where there is no immediate need for the cash but seems companies are more beholden to their fee reaping advisors rather than their shareholders.

Always try to buy into capital raisings when the money is used for growth.

Keep on truckin Eroad!

[Getty]

$360M cap @ $4.40

Just made $1M profit.

These guys have been at it for long enough now.

Beginning to look like a charity to their customers, another Rakon.